External link to Question : 81. The management of Wyoming Corporation considering the purchase of a : 1246965

Question : 81. The management of Wyoming Corporation considering the purchase of a : 1246965

    81. The management of Wyoming Corporation is considering the purchase of a new machine costing $375,000. The company’s desired rate of return is 6%. The present value factor for an annuity of $1 at interest of 6% for 5 years is 4.212. In addition to the foregoing information, use the following data in determining the acceptability in this situation:  Year Income fromOperations Net CashFlow […]

External link to Question : 71. Training evaluation that uses observation, work-samples, and ratings to measure : 1251039

Question : 71. Training evaluation that uses observation, work-samples, and ratings to measure : 1251039

    71. Training evaluation that uses observation, work-samples, and ratings to measure behaviors is called:  A. skill-based outcomes. B. results outcomes. C. affective outcomes. D. cognitive outcomes. Training outcomes can be categorized as cognitive outcomes, skill-based outcomes, affective outcomes, results, and return on investment.     72. Transfer of training is best assessed by which types of training evaluation?  A. Affective and content outcomes B. Cognitive and behavior outcomes C. Results and learning […]

External link to Question : 91. The initials GAAP stand for A. General Accounting ProceduresB. Generally Accepted PlansC. Generally Accepted : 1233754

Question : 91. The initials GAAP stand for A. General Accounting ProceduresB. Generally Accepted PlansC. Generally Accepted : 1233754

  91. The initials GAAP stand for  A. General Accounting Procedures B. Generally Accepted Plans C. Generally Accepted Accounting Principles D. Generally Accepted Accounting Practices 92. Presently, the dominant body in the development of accounting principles is the  A. American Institute of Certified Public Accountants (AICPA) B. American Accounting Association (AAA) C. Financial Accounting Standards Board (FASB) D. Institute of Management Accountants (IMA) 93. The business entity concept means that  A. the owner is part of the […]

External link to Question : 61.Duncan Industries sold $100,000 of 12 percent bonds January 1, : 1253519

Question : 61.Duncan Industries sold $100,000 of 12 percent bonds January 1, : 1253519

  61.Duncan Industries sold $100,000 of 12 percent bonds on January 1, 2006, when the market interest rate was 10 percent and received $107,732 for them.  The bonds mature on January 1, 2011 and pay interest on June 30 and December 31.  Duncan uses the effective interest method of amortization.  The annual cash payment for interest on the bonds are: a. $10,000 b. $12,000 c. […]

External link to Question : 31.Ringgold Company had beginning finished goods inventory of $36,000. During : 1257041

Question : 31.Ringgold Company had beginning finished goods inventory of $36,000. During : 1257041

    31.Ringgold Company had beginning finished goods inventory of $36,000. During the period, the company produced goods that cost $150,000. If the ending balance in finished goods was $24,000, the amount of cost of goods sold was:    A. $162,000.   B. $150,000.   C. $138,000.   D. none of these.     32.All of the following are reasons to assign estimated overhead to inventory except:    A. managers need cost […]

External link to Question : 71.Company X manufactures 3-ring notebooks. All of the following considered : 1257045

Question : 71.Company X manufactures 3-ring notebooks. All of the following considered : 1257045

    71.Company X manufactures 3-ring notebooks. All of the following are considered indirect costs except:    A. cardboard used in production of notebooks.   B. depreciation on manufacturing equipment.   C. factory utilities.   D. salaries for production supervisors.     72.Which of the following statement(s) is/are correct?I. A predetermined overhead rate is used to assign estimated overhead costs to work in process inventory.II. The predetermined overhead rate is […]

External link to Question : 147.Use this balance sheet and income statement for the first : 1244347

Question : 147.Use this balance sheet and income statement for the first : 1244347

147.Use this balance sheet and income statement for the first year of operations for Layton Novelties, Inc. to answer the following question. Use ending balances whenever average balances are required for computing ratios.       The total amount of working capital of Layton Novelties, Inc. is   a. $12,000. b. $28,000. c. $4,000. d. $8,000.       148.Use this balance sheet and income […]

External link to Question : 41. The income statement not also called the statement of A. operations.B. operating : 1245928

Question : 41. The income statement not also called the statement of A. operations.B. operating : 1245928

    41. The income statement is not also called the statement of   A. operations. B. operating activity. C. profit and loss. D. receipts and disbursements. E. All of the above are different names assigned to the income statement.   42. _____ present an ordered list, grouped by broad categories of revenues and expenses. They begin with revenues followed by a list of expenses.   A. Income Statement B. Balance Sheets C. Statement of […]

External link to Question : 161. Materials used by Jefferson Company in producing Division C’s product : 1246925

Question : 161. Materials used by Jefferson Company in producing Division C’s product : 1246925

  161. Materials used by Jefferson Company in producing Division C’s product are currently purchased from outside suppliers at a cost of $10 per unit. However, the same materials are available from Division A. Division A has unused capacity and can produce the materials needed by Division C at a variable cost of $8.50 per unit. A transfer price of $9.50 per unit is negotiated and […]

External link to Question : 121. The net income reported the income statement $85,000. However, adjusting : 1251787

Question : 121. The net income reported the income statement $85,000. However, adjusting : 1251787

  121. The net income reported on the income statement is $85,000.  However, adjusting entries have not been made at the end of the period for supplies expense of $2,200 and accrued salaries of $800.  Net income, as corrected, is  A. $84,200 B. $85,000 C. $82,800 D. $82,000 122. At the end of the fiscal year, the usual adjusting entry to Prepaid Insurance to record expired insurance was omitted.  Which of […]

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